F&O Calls for the day (15.05.2008)

1. HCLTECH FUT
(CMP 307.65)

The stock has given a break out on the daily chart s and advanced along with increase in OI as well sharp surge in delivery volumes. The stock is expected to advance further and test its resistance levelss of 315 / 322 / 328. Long positions can be initiat ed on the stock for the said targets with a stop loss placed at 298.50 on ini tiation.

IFCI FUT
(CMP 61.90 /
+ 1.85%)
The stock has been consolidat ing in the range of 58 - 62 since past few trading sessions and is now trading close to the higher end of the range. The stock has advanced along wi th substantial increase in OI in yesterdays trading session and closed at the high of the day. We recommend
traders to init iate long positions on the stock for target of 68 / 70 / 72 with a sto p loss placed at
56.75 on initiation.

STER FUT
(CMP 857.85 /
+ 4.51%)

The stock bounced back from its strong support around 820 (being 200 DMA) and witnessed smart recovery in yesterdays trading session. The stock advanced along with sharp surge in delivery volumes indicat ing strong accumulation in cash segment. Unwinding of short positions was also witnessed in futures segment. Long positions can be initiated on the st ock for p rice target of 898 / 920 with a stop loss placed at 819 on initiation.